Postie Plus mulls capital-raising, debt cut as sales disappoint

Tue, 06 Aug 2013

Aug. 6 (BusinessDesk) – Postie Plus Group, the retailer that breached bank covenants earlier this year, said it is mulling ways to raise capital to repay debt in the face of continued disappointing sales. “July sales were below expectations due to difficult trading conditions,” the company said in a statement from chairman Richard Punter. “This has compounded the previously reported impact on sales due to difficulties with stock distribution.” “Due to these factors PPGL is exploring options to raise capital for the purpose of improving the c...

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